Cyprus Citizenship by Investment: Acquisition Details
The Government of Cyprus is extremely interested in bringing overseas investment into the country. Several pathways and incentives has been set up with goal of encouraging investors to obtain residence or Cyprus citizenship by investment.
The Cyprus Citizenship by Investment program grants full Cyprus citizenship and all the rights that come with it for those who invest at least €2.5 million in a qualifying investment (as well as a few other conditions). As a Cyprus citizen, qualifying investor would be entitled to live, work and/or study in any of the 28 countries in the European Union.
However, obtaining Cyprus citizenship by investment is never really ‘simple’. There are a few critical steps which you must take and conditions you must fulfill in order to be granted citizenship, even after the investment is made. For example:
- You will need to have a legitimate passport before you begin the process
- You will be asked to document the source and origin of the funds to be invested
- You must not have any criminal record, and be able to document that fact
- The applicants whose property is ordered to be frozen inside the boundaries of the EU are ineligible for citizenship by investment
- Certain application fees must be paid
Only certain investment opportunities qualify one for the Cyprus Citizenship by Investment program. These investments include:
- Government Bonds – candidates should make an investment of at least €5 million in Cypriot government bonds. In addition, investors are required to maintain the purchased bonds for at least three years.
- Financial assets of Cypriot companies or organizations (Cyprus company formation)
- Real estate, land development and infrastructure projects
- Purchase, creation, or participation in one or more Cypriot businesses or companies
- Deposit of the qualifying funds in a Cypriot bank
- Mixed investments
- Numerous other options, which Prospectacy will be happy to explore with you